- Issuer
- Innovator
- Inception Date
- Nov 1, 2019
- Category
- Large Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Cboe S&P 500 30% (-5% to -35%) Buffer Protect November Series Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $107M
Share Price Chart
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Performance
UNOV Performance Chart
Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) is up 5.6% since the beginning of the year. UNOV is currently trading at $40 per share. Investors who bought $1,000 worth of UNOV shares 5 years ago would now be looking at an investment worth $1,379.
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Returns By Period
Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) has returned 5.62% so far this year and 13.21% over the past 12 months.
Innovator U.S. Equity Ultra Buffer ETF - November
- 1D
- -0.03%
- 1M
- 1.20%
- YTD
- 5.62%
- 6M
- 6.11%
- 1Y
- 13.21%
- 3Y*
- 9.64%
- 5Y*
- 6.64%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
UNOV Monthly Returns History
Based on dividend-adjusted daily data since Nov 1, 2019, UNOV's average daily return is +0.03%, while the average monthly return is +0.58%. At this rate, an investment would double in approximately 10.0 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2026 with a return of +5.4%, while the worst month was Mar 2020 at -4.6%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, UNOV closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +4.2%, while the worst single day was Mar 16, 2020 at -5.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.85% | -0.39% | -2.51% | 5.43% | 2.15% | 0.14% | 5.62% | ||||||
| 2025 | 1.45% | -0.36% | -2.99% | -0.01% | 3.45% | 2.78% | 1.25% | 1.27% | 1.24% | 0.93% | 0.16% | 0.46% | 9.92% |
| 2024 | 0.98% | 1.47% | 0.85% | -0.27% | 1.51% | 0.68% | 0.48% | 0.69% | 0.52% | 0.50% | 2.47% | -0.81% | 9.42% |
| 2023 | 3.75% | -1.27% | 2.04% | 1.31% | 0.66% | 4.16% | 1.45% | 0.18% | -3.02% | -2.13% | 4.59% | 1.95% | 14.18% |
| 2022 | -1.66% | -1.15% | 1.44% | -3.78% | 0.05% | -2.52% | 1.74% | -0.83% | -0.22% | 0.29% | 2.79% | -2.36% | -6.23% |
| 2021 | -0.57% | 1.02% | 1.04% | 0.59% | 0.43% | 0.50% | -0.02% | 0.36% | -0.07% | 0.27% | -0.59% | 1.42% | 4.45% |
Benchmark Metrics
Innovator U.S. Equity Ultra Buffer ETF - November has an annualized alpha of 1.79%, beta of 0.34, and R2 of 0.79 versus S&P 500 Index. Calculated based on daily prices since November 01, 2019.
- This ETF participated in 33.23% of S&P 500 Index downside but only 31.93% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.34 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.79%
- Beta
- 0.34
- R²
- 0.79
- Upside Capture
- 31.93%
- Downside Capture
- 33.23%
Expense Ratio
UNOV has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UNOV ranks 77 for risk / return — better than 77% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UNOV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.36 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.71 | +0.23 |
| Martin ratioReturn relative to average drawdown | 14.07 | 12.15 | +1.91 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Innovator U.S. Equity Ultra Buffer ETF - November. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Innovator U.S. Equity Ultra Buffer ETF - November was 13.84%, occurring on Mar 20, 2020. Recovery took 85 trading sessions.
The current Innovator U.S. Equity Ultra Buffer ETF - November drawdown is 0.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -13.84%Mar 2020 | 29d | 4mo 4d | 5mo 3dFeb 2020 - Jul 2020 |
2025 selloff2025 | -9.10%Apr 2025 | 1mo 17d | 2mo 3d | 3mo 20dFeb 2025 - Jun 2025 |
Bear market2022 | -8.57%Nov 2022 | 10mo 8d | 6mo 24d | 1y 4moDec 2021 - May 2023 |
2023 pullback2023 | -7.35%Oct 2023 | 1mo 12d | 1mo 17d | 2mo 29dSep 2023 - Dec 2023 |
2026 pullback2026 | -4.52%Mar 2026 | 2mo | 15d | 2mo 15dJan 2026 - Apr 2026 |
Drawdown Indicators
| UNOV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.84% | -56.78% | +42.94% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -9.10% | +4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -18.90% | +9.80% |
Max Drawdown (5Y)Largest decline over 5 years | -9.10% | -25.43% | +16.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.03% | -1.29% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -10.72% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 2.02% | -1.08% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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